H&M Business Pformation Has Revival

According to the world clothing shoes and hats net, Sweden

Retailer Hennes&Mauritz (

) announced the first quarter of fiscal year 2018 sales of 53 billion 554 million Swiss francs.

Sales of VAT free sales amounted to SEK 46 billion 181 million.

Sales in the local currency, including VAT, did not change in the first quarter.

During the reporting period, Maori run amounted to SEK 23 billion 40 million.

Thanks to the US tax reform (tax relief and Employment Law), the group achieved a one-time tax revenue of 399 million kroner.

After the financial project, the profits amounted to SEK 1 billion 263 million.

The group's after tax profit is SEK 1 billion 372 million, equivalent to SEK 0.83 per share.

Profit growth in the quarter was sluggish in sales and

The negative effects of falling.

H&M's online store in India was launched in mid March and has already made a good start.

In March 21st, H&M and H&M launched the Tmall mall in China, with sales exceeding expectations.

H&M CEO Carle Persson John Persson said: "the rapid pformation of fashion retailing industry is continuing.

As mentioned earlier, this year is very difficult from the beginning.

2018 is the pition period of H&M group. We will accelerate pformation so as to facilitate the opportunities brought by rapid digitalization.

Sluggish sales in the fourth quarter of 2017 were partly due to the uneven distribution of H&M brands, which resulted in a lot of clearance sales in the first quarter.

A large number of clearance sales coupled with the exceptionally cold winter weather had a negative effect on the sales of spring clothing.

In the first quarter, sales of H&M group remained unchanged in local currency terms.

Many of the initiatives we are carrying out have shown good signs and results, although they have not yet been implemented in a sufficiently large scope, thus having a decisive impact on the overall results.

Weak sales and sharp price cuts had a significant negative impact on the first quarter's performance. "

In 2018, Uruguay and Ukraine will become the new H&M market in the second half of this year.

And global Internet promotion is continuing.

In the spring and summer of 2018, the United Arab Emirates in Saudi Arabia and Arabia will launch H&M online through franchising, and H&M will provide online shopping services in 47 markets.

Afound will be launched as a new brand in 2018.

Afound will be a low price market brand, providing products from well-known and fashion brands and lifestyle brands, including external brands and H&M group products.

Its first store and a digital market will open in Sweden.

John Persson concluded: "our assessment is that sales of the Internet and new businesses will increase by more than 25% this year, while the H&M group's performance in 2018 will be improved compared with last year.

From a long-term perspective, our knowledge and experience enable us to navigate in such an era.

We look forward to introducing H&M group's continuous pformation to shareholders, which will enable us to restore healthy growth in terms of sales and profitability. "

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